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For #Argentina, particularly in an election year, the speed of deficit reduction (post-gradualismo) is remarkable, and explains #IMF enthusiasm for @mauriciomacri despite inflation troubles and the possibility the government will miss its zero primary deficit target this year.
Not for nothing, this deficit reduction is mostly thanks to spending cuts, as tax collection is down thanks to the recession. Again, this is rather extraordinary by historical standards, as the politics of austerity are perilous in #Argentina.
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